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Determine the price of the bonds on September

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Question - On September 30, 2021, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $100 million. The bonds mature on September 30, 2041 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30.

Required - Determine the price of the bonds on September 30, 2021.

Reference no: EM132707848

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